Business News

India on Thursday told the European Union (EU) that it is keen on inking the proposed free trade agreement (FTA) within the next one-year. It also unequivocally stated that the Doha round of the World Trade Organisation (WTO) can be concluded only if developed nations, particularly the United States, reduced farm subsidies.

It could be a big showtime for entrepreneur Rohinton "Ronnie" Screwvala. The US based $63 billion entertainment giant,The Walt Disney Company Ltd, the company behind Mickey Mouse and Donald Duck cartoons, is all set to acquire management control in UTV Software Communications Ltd, the company promoted by Screwvala.

LEADING DETERGENT maker Nirma has entered into an agreement to acquire the US-based natural soda ash producer Searles Valley Minerals Operations (SVM) from an affiliate of Sun Capital Partners, Inc. The company has not disclosed the value of the transaction.

India and Russia on Monday agreed that the national oil companies of the two countries should concretise mutually beneficial projects in several fields.

WIPRO LIMITED has set up a centre in western Sydney to bag outsourcing deals from Australia, besides extending its geographical reach.

Delhi and Mumbai may soon have their second airports - a la Gatwick and Heathrow in London. Although, the existing policy stipulates that two airports should be at least 150 km apart, the aviation boom and the consequent city-side and airport congestion may force the government to do a rethink.

CAR COMPANIES are now knocking at your door, quite literally. They are arranging doorstep pick-ups and drops of cars meant for service, a scheme that a recent JD Power survey said is turning out to be a smash hit with customers.

Adobe Systems Inc, the world's fifth-largest software company, on Tuesday named Indian-born Shantanu Narayen as its next chief executive officer (CEO), marking the latest of top-level appointments of people of Indian origin in one of the world's hottest companies.

AHEAD OF the third East Asia Summit (EAS) in Singapore on November 20 and 21, to be attended by leaders from 16 nations (ASEAN + 6) including Prime Minister Manmohan Singh, a panel of experts have suggested that the region should liberalise tariff and non-tariff barriers in a phased manner by 2020.

STATE-RUN GAS transmission utility GAIL (India) is exploring the possibility of setting up a mega-integrated petrochemical complex in Qatar under the public-private partnership (PPP) model in a joint venture with Qatar Petrochemical Company (QAPCO).

ONGC Videsh Ltd (OVL) is exploring the possibility of acquiring stakes in two oil blocks in Sudan. "OVL is present in three blocks in Sudan and is on the way of joining a fourth one.

It has been made obligatory for IAS officers serving in the states to apply online to serve in the Centre. They have also been allowed an option to choose any three departments or ministries where they would like to work at the Centre. The Ministry of Personnel has written a letter dated October 31 to the Orissa government on the new norms governing central deputation of IAS officers for 2008.

HSBC India on Thursday launched its global personal banking service, through which its Premier category customers will be in a position to take their account with them to any of the 35 countries, while on travel or on shifting permanently.

Are there any signs of a home-grown sub-prime crisis? Yes, it is ticking bomb, which could explode anytime, says former RBI Deputy Governor SS Tarapore. The 'sub-prime' crisis here is likened to a scenario in which banks may be saddled with huge defaults.

While opinion is divided on the way Cipla is marketing its new emergency contraceptive, the I-pill, the stock market seems to have taken note of the new turn the company has taken.

CERTAIN INDIAN software companies are beginning to influence the way students in the US and UK get educated.

THE IRISH food board, Board Bia, has welcomed the recent cut in India's import duty on spirits by gearing up to invade the sub-continental market. And the targets are Delhi, Mumbai and Bangalore, to begin with. Board Bia, which primarily looks after the island nation's liquor and dairy sectors, is confident of making a mark in India's whiskey market through its superior liquor and liqueur brands.

I remember a sunny, breezy afternoon at the Brabourne Stadium 25 years ago in what was then Bombay, when one of cricket's venerated commentators, A.F.S. "Bobby" Talyarkhan held forth to me about the decline of the game.

Despite the 30-share sensitive index, Sensex, gaining 2,575 points during the last one month since August 21, 58 stocks of the broadbased BSE 500 ended in the negative. The top loser – Subex Azure – lost 19.48 per cent in price.

A POSSIBLE interest rate cut by the US Federal Reserve, for the first time since mid-2003, is not expected to cast an immediate effect on the Indian market except for a sentimental impact on the bond markets.